One-Third Of Taxpayers Not Taking Free Money

The IRS sent out a press release due to many people making mistakes on getting the free money they are entitled to through the one time Telephone Excise Tax Refund for 2006 taxes. One of the points highlighted by the IRS is that more than a third of the people who appear to be eligible for this tax refund failed to even apply for it.

It also seems that there are many people attempting to abuse this refund by claiming far more than they really should get. The IRS says it will investigate all large claims for this refund, and “take prompt action against taxpayers who request improper refund amounts and the return preparers who help them.”